Fortune 500 Power Moves: Which executives gained and lost power, Dec. 1–13, 2024

Below is a recap of the C-suite developments at America’s highest-revenue-generating companies since the beginning of December, organized by sector. Titles included in this roundup include CEOs (Chief Executive Officers), CFOs (Chief Financial Officers), COOs (Chief Operating Officers), CHROs (Chief Human Resources Officers), and Chief Marketing Officer (CMOs).

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Chemicals

• Celanese (No. 369) appointed Scott A. Richardson as CEO, effective Jan. 1, 2025. Richardson currently serves as COO and will replace current CEO Lori Ryerkerk.

• Karen S. Carter was appointed COO of Dow (No. 99), effective immediately. Carter previously served as the President of Packaging and Specialty Plastics at Dow, among other roles throughout her 30 years with the company.

Energy

• Rick Muncrief announced that he is retiring as President and CEO of Devon Energy (No. 271), effective March 1, 2025. Clay Gaspar, the company’s current COO, will replace him. 

• Dominion Energy (No. 230) announced that Executive Vice President and COO Diane Leopold will retire on June 1, 2025. 

Engineering and construction

• Fluor (No. 265) announced that Joe Brennan will step down as Executive Vice President and CFO of the company, effective July 1, 2025. John Regan, who currently serves as Fluor’s Executive Vice President and Chief Accounting Officer, will succeed Brennan.

Financials

• Raymond James Financial (No. 312) appointed Paul Shoukry, the company’s current President and former CFO, as CEO, effective Feb. 20, 2025. He will replace current Chair and CEO Paul Reilly. Read more: The Great CFO Turnover: Why more top finance leaders are retiring or changing jobs

• Prudential Financial (No. 81) announced that Andrew Sullivan will replace Charles F. Lowrey as CEO, effective March 31, 2025. Sullivan currently serves as Executive Vice President and head of International Businesses and Global Investment Management at Prudential.

• StoneX Group (No. 66) transitioned Sean O’ Connor, the company’s current CEO, to Executive Vice Chairman of the board of directors. Philip Smith, a member of the executive committee for the company’s commercial and payments businesses, has been appointed Group CEO. 

Food, beverages, and tobacco

• Campbell’s (No. 419) announced that Mick Beekhuizen will succeed Mark Clouse as President and CEO, effective Feb. 1, 2025. Beekhuizen currently serves as President, Meals and Beverages, at Campbell’s, and previously served as CFO. Read more: Campbell CEO departs to join Washington Commanders as president

• Coca-Cola (No. 95) announced Henrique Braun has been named Executive Vice President and COO, effective Jan. 1, 2025. Braun currently serves as EVP and President, International Development; as COO, he will expand the scope of his role to the North America and Europe operating units. He has been with Coca-Cola since 1996. The COO role at the company has been vacant since 2022, upon the retirement of Brian Smith.

Health care

• Humana (No. 38) appointed Celeste Mellet to CFO, effective Jan. 11, 2025. Mellet, who currently serves as CFO of Global Infrastructure Partners, will replace Susan Diamond as CFO of Humana.

Industrials

• Brad Cerepak announced his intention to retire as Senior Vice President and CFO of Dover (No. 448), effective Jan. 31, 2025. He will be replaced by Christopher (“Chris”) Woenker, the company’s current CFO of Engineered Products and Climate and Sustainability Technologies.

• Oshkosh (No. 409) appointed Matthew Field as CFO, effective Dec. 16, 2024. Field, currently the CFO of Joby Aviation, will replace Michael Pack.

Retailing

• Dollar Tree (No. 143) announced that Jeffrey A. Davis will step down as CFO, effective when the company appoints a successor.

Technology

• Pat Gelsinger stepped down as CEO of Intel (No. 79), effective Dec. 1, 2024. Interim co-CEOs are David Zinsner, the company’s Executive Vice President and CFO, and Michelle Johnston Holthaus, the CEO of Intel Products. Read more: How Intel’s unresolved identity crisis ended a star CEO’s career and has left the chipmaker fighting for its life

• Adobe (No. 210) appointed Lara Balazs as CMO and Executive Vice President, Global Marketing. Balazs previously served as CMO and General Manager, Strategic Partner Group at Intuit (No. 297). 

Transportation

• Norfolk Southern (No. 338) has named Ann A. Adams as CHRO. Adams has been with the company in human resources roles since 2001, including Chief Transformation Officer; CHRO is a new role for the company.

Source: S&P Global Market Intelligence